Dormant Accounts

Samsung_Note2

Switched accounts for just about every offer and it would seem I've been lucky to have been accepted for First direct and HSBC as credit history is pretty poor.


I've kept the B account as main account and Halifax as a second account (B for Bills and Halifax for daily spending).


Just wondering if First direct (took CC at same time as account) or HSBC are likely to close accounts that are not used or will they be safe left idle.

Not a big deal as can transfer funds in and out if needed, just a bit of a faff.

AirlieBird

Samsung_Note2 wrote: »

Just wondering if First direct (took CC at same time as account) or HSBC are likely to close accounts that are not used or will they be safe left idle.

Not a big deal as can transfer funds in and out if needed, just a bit of a faff.

The accounts may be suspended if not used for 12 months. If you can afford to, why not use them for their regular savers? It doesn't have to be the full amount, just the minimum of £25 or whatever you can afford. Set up standing orders from your billing account to the 1st direct and HSBC accounts which in turn will feed the regular savers.

Also worth remembering that if you close your CC with first direct, there will be a £10 monthly fee for the current account if you don't take out another qualifying product, deposit £1,000 a month or maintain an average balance of £1,000 in the month.

Samsung_Note2

Yes that's good idea..I don't save but really should, in fact whilst sat here twiddling my thumbs at work...im going to do that right now.